o p e c

Eco. ඛනිජ තෙල් අපනයන රටවල සංවිධානය

Definition:

OPEC (noun): The Organization of the Petroleum Exporting Countries, an intergovernmental organization formed by oil-rich countries with the primary goal of coordinating and unifying petroleum policies to stabilize oil markets, ensure fair prices for producers, and secure a steady income stream.

OPEC is comprised of 13 member countries and is a significant player in the global oil industry. Established in 1960, OPEC wields considerable influence over oil production levels and prices, impacting economies worldwide.